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06/08/2008, 12h27
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Fed Rates stays at 2.0%, Euro climbs back up.
The Fed has held the rates on 2.0%. The market was unsurprised by the Fed’s decision, but the FOMC statement that communicates concerns about the economic growth and inflation underlined by the indication that the Fed is in no hurry to drive the rates higher buffers the up move of USD. EUR/USD went back up to 1.5516 after touching yesterday’s low 1.5444 just before the Fed rate decision.
Dollar is still reaping benefit against JPY as oil prices slips below $120. USD/JPY touched the 7 week high at 108.54 today. A US investment bank says that this could continue further if the price goes through 108.50-60. We now await the rates decision from BOE and ECB tomorrow.  
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